Overview of CitiBank Fixed Deposit

Citibank India, more widely known as Citi India commenced operations in Kolkata, West Bengal in the year 1902. It has since expanded across the length and breadth of the country with 44 full service branches in 28 cities. With about 45,000 small and mid-sized companies as clients, Citi India is now a significant foreign investor in the Indian financial market.

Citi India had established Citicorp Overseas Software Ltd. and Iflex Solutions which were successfully acquired by Tata Consultancy Services in 2008 and Oracle in 2005 respectively.
Citi India now has a thriving employee pool of 11,000 persons under the established wings of Institutional Clients Group (ICG) and Global Consumer Bank (GCB).

Citi India is headquartered in the First International Financial Centre (FIFC) housed in a majestic eco-friendly building with an addition of two new green premises.

About Citibank Fixed Deposits

Citi India offers its customers fixed deposit accounts that are linked to either their Savings Account or their Current Accounts. Citi India presents depositors with a safe and secure method of investment in the form of a fixed deposit account. With Citi India’s proud history and stable financial background, investors can now be assured of the safety of the vested assets.

Features of the Citi Bank Fixed Deposit Scheme

Following are the features of the fixed deposit scheme offered by Citi India-

Zero entry cost

Short lock-in periods

Fast and easy liquidity option

Safe investment instrument

Tenures tailor made to suit customer requirements

Competitive rates of interest

Benefits of Higher Net Relationship Value (NAV)

Benefits of having a Higher Net Relationship Value with Citibank

Citi India offers its fixed deposit account holders with the privilege of having a Higher Net Relationship Value (NRV).

Following are the benefits that can be reaped off of a NAV relationship-

Loans processed at lowered rates of interest

Loans processed at a faster pace

Promotional offers are applied from time to time

Credit cards are equipped with higher credit limits

Credit cards are equipped with higher withdrawal limits

Eligibility for a Citi Bank Fixed Deposit Account

In order to avail a fixed deposit account with Citi India, an individual must have the following-

Valid identity proof

Valid address proof

A permanent address

A telephone number

Interest Rates Charged to a Citibank Fixed Deposit Account

Interest rates on Citibank FDs range between 3% to 7.95% p.a. on deposit categories of amounts up to ₹ 10 crores. Interest rates vary depending on the tenure it is held for and the amount held. Interest rates are subject to change in line with market rate movements and the bank’s liquidity requirements. While the bank constantly tries to offer depositors the best rates on their savings, it is always advisable for investors to check rates that are applicable on renewal or when opening a new deposit account.

What Is the Minimum Amount Required In Order to Open a Fixed Deposit Account with Citibank?

The minimum amount that is required to open a fixed deposit account with Citi India is ₹ 1,000.

What Is the Minimum and Maximum duration of a Fixed Deposit Account with Citibank?

A fixed deposit account can be opened with Citi India for a minimum of 7 days and a maximum of 1096 days.

Can a loan be issued against a Citibank Fixed Deposit Account?

Up to 90% of the fixed deposit amount can be availed as the loan amount.

Even family members of the fixed deposit holder can avail this facility.

You can maintain liquidity while retaining the returns on your vested assets.

The interest charged is on usage only.

Interest rates charged on the loan are competitive.

These loans against fixed deposits are simple and quick to avail.

What Are the Benefits offered to Senior Citizens with Citibank Fixed Deposit Account?

Senior citizens are offered an interest rate of 0.5% over the rack rates across all tenures and amounts of fixed deposits.

A range of 4%- 7% is offered to senior citizens for short term fixed deposits.

A range of 7.5% - 8.25% is offered to senior citizens for long term fixed deposits.

Does Citibank allow premature withdrawal of fixed deposits?

Premature withdrawal of a term deposit will incur a penalty of 1%. The following are the charges for FCNR, NRE and NRO deposits.

FCNR (B) Deposit

Customers who terminate their FDs before one year (minimum tenure) will not receive any interest on the term deposits.

NRE Deposits

Customers will have to incur a preterm penalty. Conversion of NRE term deposit into FCNR (B) term deposit prior to maturity will be subject to penalty. If the customer wants to convert NRE deposit into RFC (Resident Foreign Currency) deposit, no penalty will charged if the NRE deposit has completed one year.

NRO Deposits

Customers have to incur a penalty for premature withdrawal, as mentioned in the terms and conditions in the policy document.

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CitiBank Fixed Deposit Reviews

I also have a fixed deposit with Citibank. I could get the clear details online. Though I would not be able to open this account through the mobile application. I can do it through the desktop. It has been a good experience till date and beneficial too.

I have converted saving maintenance into FD account for the term of one year. I can prolong period based on my convenience, the rate of interest is average for the fixed deposit. However I have online option to open and close the fixed deposit account at any time.

I had started this investment a pretty long time back and they had been providing a good service. Their customer support has not been responsive and i do not suggest any one to make an investment through them. There has not been a good growth with the investment.

I do have the fixed deposit account with the CITI bank and the rate of interest was not aware by my end. I would like to say that the online services are good one with the CITI bank. I am happy with them as such.

I have a Fixed deposit with Citi bank. I recently started using Citi online net banking which is good. The online application for my Citi fixed deposit account is good. The process was been fast with Citi bank. It was an excellent experience with Citi bank savings account service.

I am having the fixed deposit account with the CITI bank and the rate of interest is lesser one . I would like to say that the online banking services are good one too and am happy with the deposits in CITI bank.

I have taken a fixed deposit from CITI as I have salary account with them I started the service and it was about 3.5 years I have started the service with CITI bank the payments where through online the CITI bank application was user friendly ,totally it was a very good experience with CITI bank fixed deposit service.

Now -a -days everything comes online, this includes banking as well. I am able to open a FD online it is very easy to transfer funds online. I had placed a request for FD also I can close the FD online. I had got the FD receipt online and the interest which we can earn on the deposits are 10% with CITI.

I am having the fixed deposit with the CITI bank and the interest rate is good for me. The minimum lock in period is around five years of time. The returns are really good for me and I am using this deposit for tax saving purpose.

CITI Bank FD is good. I am holding this FD for a period of one year. The only reason was my salary account was with the same bank. This CITI Bank FD was opened at the branch. There is no charges as such. I have got the FD certificate and the amount would be deducted from my account.,

Using banking services since 2004 and services are very good in Citibank. Rate of interest is normal as that is 7.5%. Within a second I will get amount if I do request for closing of the fixed deposit on online. I simply opened through online. They don't have any additional charge.

With the CITI bank I have the fixed deposit for the rate of interest as 7 % to 8%. The services are good with them and the net banking account is also good, so I can track the account at any time according to the current state. I been with them for some long time. Minimum lock in period dint made me happy with them.

Normally the interest rate on the fixed deposit is 8% and that is equal to all bank. Citibank is an International bank and they are very good in services so I have opted the fixed deposit with them. Ready credit for the fixed deposit is really useful and for that the interest rate is 13% per annum.

Everything is good with Citibank and they are great in all the aspects. On fixed deposit the interest rate is 8.75% and this is for 5 years where the deposit can not break in middle. I have chosen compounding rate and it gets accumulate on every quarter. Entirely happy with Citibank fixed deposit.

The best FD is with CITI Bank I would say as partial liquidation is possible. For example if we have placed the deposit for 1 lakhs we can break a part of the amount. For the amount what ever I hold they will provide interest. It only takes a few minutes to open this FD account online.

Dear All,
I am using Citi bank from last 8 years and i am very satisfied customer. I am always using fixed deposit facility in Citi bank and it makes my life easy. Thank you Citi bank for developing user friendly application.
I am planning to use this facility for many years and also suggesting users to use this feature.

Citibank is very good in service and for investment purpose I took Fixed deposit two years ago but I already closed the deposit. Interest rate they offered was 8% at that time. I preferred Citibank for Fixed deposit because of their tremendous service and wonderful customer support.

Citibank is too fast and services are pretty awesome. Benefits that I am getting from Citibank on Fixed deposit is around 9% so I would say it as high. At present I cannot recall that the interest is like compound else simple but satisfied in their offers. Customer service and response is appreciable so like recommending Citibank.

Citibank is one of the best bank that I would say as they are giving good service to their clients. I got Fixed deposit 5 years ago and they are offering some discounts which I could not recollect now because my financier take care of all the things. Citibank offered some goodies on FD and interest rate is very good. Always I do recommend Citibank since they are outstanding in all the criterion.

My Fixed deposit with Citibank is short term where I opened it for six months and I planned to renew. Basis customer we can have FD for short term as well for long term for up to 5 years. Important feature is that there are no penalty charges and offering compound Interest for our money. Citibank won't make any fake promises and executives are very smart. Citibank service is incomparable as they are number one in all the aspects and as well in all the products like credit card, etc., Suppose we visit branch, they are amazing and staff are well versed and prompt.